Biden’s Two-Part $3 Trillion Economic Plan Aims to Improve Infrastructure, Fight Climate Change

Mandatory Credit: Photo by MediaPunch/Shutterstock (11781799ab)United States participates in a virtual bilateral meeting with President Andres Manuel Lopez Obrador of Mexico in the Roosevelt Room of the White House in Washington on March 1st, 2021.
MediaPunch/Shutterstock / MediaPunch/Shutterstock

White House economic advisors are working on a $3 trillion jobs and infrastructure plan that could hit President Joe Biden’s desk as early as this week, The New York Times reported Monday, with the proposal likely being broken down into two parts.

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The proposal, which has been weeks in the making, reportedly would include one bill focused on infrastructure and clean energy, with the other focused on important economic issues. Although details are still being worked out, the package has a wide and sweeping scope that looks to boost the economy, lower carbon emissions, narrow the economic gap between rich and poor Americans and provide for free community college, universal prekindergarten and a national paid leave program.

It will like begin with a massive infrastructure plan that The New York Times said could be partly funded by tax hikes on corporations and the wealthy. This could be a tough sell for Republicans and moderate Democrats, who support some kind of infrastructure plan but likely would be resistant to tax increases.

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CNBC reported Monday that Biden has still not decided how to proceed with the package. In a statement to NBC News, White House Press Secretary Jen Psaki said, “President Biden and his team are considering a range of potential options for how to invest in working families and reform our tax code so it rewards work, not wealth.” She added that “conversations are ongoing, so any speculation about future economic proposals is premature and not a reflection of the White House’s thinking.”

Earlier this month Biden signed a $1.9 trillion coronavirus relief package designed to inject more money into the economy and speed up the COVID-19 vaccination program. As part of that plan, most Americans will get direct payments of up to $1,400.

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About the Author

Vance Cariaga is a London-based writer, editor and journalist who previously held staff positions at Investor’s Business Daily, The Charlotte Business Journal and The Charlotte Observer. His work also appeared in Charlotte MagazineStreet & Smith’s Sports Business Journal and Business North Carolina magazine. He holds a B.A. in English from Appalachian State University and studied journalism at the University of South Carolina. His reporting earned awards from the North Carolina Press Association, the Green Eyeshade Awards and AlterNet. A native of North Carolina who also writes fiction, Vance’s short story, “Saint Christopher,” placed second in the 2019 Writer’s Digest Short Short Story Competition. Two of his short stories appear in With One Eye on the Cows, an anthology published by Ad Hoc Fiction in 2019. His debut novel, Voodoo Hideaway, will be published in 2021 by Atmosphere Press.

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